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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Energy debt - some good news

29/03/2010

All the `big six` energy firms have now announced price cuts, bringing some good news to people who are struggling with energy debts.

As The Times reports, all six - EDF Energy, Eon, Npower, British Gas, Scottish & Southern and Scottish Power - have announced reductions of between 4% and 8%.

It`s news that`ll be welcomed by billpayers, particularly the many who are in debt to their supplier. According to uSwitch, around 5.5 million households - or 21% of the country - are in debt to their energy supplier, with an average debt of £132.

Having said that, the energy companies have been criticised for doing `too little too late`.

As The Times points out, wholesale gas prices have fallen by around 60% since they peaked in mid-2008, but consumer prices have not dropped by anywhere near as much. Energy bills are still 31% higher than they were at the start of 2008.

What`s more, price cuts which are due to take effect in spring will do little to help those who`ve been hit by the cost of heating their homes over a cold winter.

And a drop of 4%-8% only means a drop of around £50 per year for a standard dual fuel bill.

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according